SPX Credit Spread Trader

ryank · May 3, 2006

Quote from optioncoach:

For JUNE I am looking at 1230 at the highest for puts and about 1380 or so on the call side if I choose to do calls. I think May will be a lot of bouncing around so if I can get in MAY in a the next week or so, I can maybe get out in the beginning of June.

We will see..

You mean you are looking at putting on your June position(s) soon and get out of them in early June? I'm sure you are aware your May positions expire on 5/19

I tried to get into a June 1380/1390 call spread yesterday but didn't get filled.

ryank · May 3, 2006

Quote from Cache Landing:

Still too close to the middle opf the channel for me. I'm willing to sit it out a bit longer, and wait for a better entry.

Which channel are you looking at?

El OchoCinco · May 3, 2006

I will most likely ride my MAY positions until close to expiration since we have a FED meeting coming up and that will have some nice swings and just chew up the market. I may grab some June now for the prop although I just entered a quick MAY scalp using 1250/1255s....

So June is still just a wish list for now

Quote from ryank:

You mean you are looking at putting on your June position(s) soon and get out of them in early June? I'm sure you are aware your May positions expire on 5/19

I tried to get into a June 1380/1390 call spread yesterday but didn't get filled.

El OchoCinco · May 3, 2006

Quote from ryank:

Which channel are you looking at?

ryank · May 3, 2006

Quote from optioncoach:

I would have guessed you were watching E! to catch some glimpses of JA

andysmith · May 3, 2006

JUN puts,.... I don't know Coach, might be playing with fire (sing the Johnny Cash song)...

Quote from optioncoach:

I will most likely ride my MAY positions until close to expiration since we have a FED meeting coming up and that will have some nice swings and just chew up the market. I may grab some June now for the prop although I just entered a quick MAY scalp using 1250/1255s....

So June is still just a wish list for now

El OchoCinco · May 3, 2006

Well it may be moot since I am loaded in MAY right now so might not be able to enter JUNE for another week or two.

Cache Landing · May 3, 2006

Quote from ryank:

Which channel are you looking at?

I'm considering more bear calls if SPX reaches 1320 or bull puts if we get down around 1295. I've got another couple weeks to get the timing right, so I'm in no hurry.

riskarb · May 3, 2006

You may want to consider initiating these positions with 45d to expiration and rolling 15d to expiration.

Cache Landing · May 3, 2006

Quote from riskarb:

You may want to consider initiating these positions with 45d to expiration and rolling 15d to expiration.

Was this response to me or OC?